In the United States, as in Europe, ABP is a major investor in financial markets including public equity, fixed income, real estate, commodities, hedge funds and private equity.Īccording to information published by ABP, its largest US investments include ExxonMobil, JPMorgan Chase, General Electric, Goldman Sachs, Morgan Stanley, Citigroup, Boston Properties, Public Storage, Microsoft and Cisco Systems.īased in New York City, New Holland Capital (NHC) is a 38-person alternative investment manager that oversees $20 billion in absolute return investments strategies for institutional clients.įounded in 2003 by Ira Handler, the firm began as the exclusive, non-discretionary advisors to APG Investments. In January 2014, Dutch newspaper Trouw reported that ABP acknowledged continuing their investment in Israeli banks Bank Hapoalim, Bank Leumi, and Bank Mizrahi-Tefahot, each of which fund Israeli settlement construction in the occupied Palestinian territories. Recently, AlpInvest Partners was acquired by the Carlyle group. The two pension funds coordinate their activities in private equity through AlpInvest Partners, one of the largest investors globally in the private equity asset class. In 2006, ABP and PGGM, another large Dutch pension fund, considered a spinoff of their investment management businesses. APG operates as a subsidiary of Stichting Pensioenfonds ABP and was formerly known as ABP Investments. The reason for the threshold is the fact that the pension is a supplement to the AOW, etc.ĪBP manages the bulk of its investments in-house through its captive investment unit APG, a privately owned investment manager. īoth contributions and accrual of benefits are based on the salary minus a threshold (2008: €10,100 per year). Only members of the armed forces now have pensions based on their final salaries. As a transition measure, benefits accrued before 2004 are based on the salary on 1 January 2004.
This is known as an average-salary scheme. Since 1 January 2004, ABP pensions are based on average salaries during the course of the pensioners’ careers. If the participant becomes unfit for work, the government will pay incapacity benefits under the Work and Income (Ability to Work) Act (WIA) ABP can supplement these benefits with an incapacity pension. If the participant dies, his/her partner and children may receive an ABP Survivor's Pension. If the participant stops working between the ages of 60 and 70, he/she will receive the ABP Multi-Option Pension.
The pensions supplement statutory benefits such as the old age pension AOW, surviving dependents' pension, and incapacity benefits. On 1 January 2015, Corien Wortmann-Kool took the chair as Chairman of the Board. Since 1 March 2008, ABP's subsidiary APG administers the ABP pension scheme.ĪBP is headquartered in Heerlen, Netherlands. In January 1996, ABP was privatized although its primary function remains unchanged. Originally, the pension fund was a government controlled entity that fell under the authority of the minister of home affairs in The Hague. ĪBP's predecessor, the Algemeen Burgerlijk Pensioenfonds ("Dutch Civil Servants Pension Fund"), was established in 1922, following the adoption of the superannuation act, which regulated the pensions of civil servants. For the quarter ended 31 December 2014, ABP had 2.8 million participants and assets under management of €344 billion ($388 billion, 1 EUR=1.13 USD), making it the largest pension fund in the Netherlands and among the five largest pension funds in the world as at September 2016. Stichting Pensioenfonds ABP ("National Civil Pension Fund"), frequently referred to as ABP, is the pension fund for government and education employees in the Netherlands. Stichting Pensioenfonds ABP (National Civil Pension Fund) Type